Company: MB92, Squircle Capital
Business Type: Refit Services
UK & International Business Sales and M&A News
Superyacht refit, repair and maintenance service company MB92 Group has been acquired by Squircle Capital, a European alternative investment firm focused on private equity and value-add real estate, after the private equity firm increased its controlling stake to 100% ownership.
MB92 Group has been providing refit, repair and maintenance services for superyachts for 30 years – the Group is comprised of MB92 Barcelona, MB92 La Ciotat, MB92 Red Sea and MB92 Golfe-Juan, with capacity to host over 58 superyachts.
Since 2019, MB92 has experienced significant growth, strengthening its position through major investments in infrastructure and strategic locations. This includes the addition of a 4,800-tonne shiplift in Barcelona, the development of the 4,300-tonne platform in La Ciotat, and the expansion of its footprint with the takeover of operations in Golfe-Juan, located between Monaco and Saint-Tropez (France) in 2024.
Ben Mennem, CEO of MB92 Group, said:
“Squircle Capital’s acquisition of 100% of the company reflects its full confidence in the MB92 project and in the group’s growth potential. With their support, MB92 will continue moving forward with a long-term vision, investing in its facilities, in its team, and in the qualities that define the company.”
Ben Mennem – CEO of MB92 Group
The group has also expanded through the acquisition of GYG Limited. Announced in September 2024 and completed in early 2025, the transaction welcomed a superyacht painting, services and supply sector company into MB92 Group, operating primarily under the Pinmar, Pinmar Yacht Supply and Technocraft brands. It marked a significant milestone in a relationship of more than 30 years between the two companies and supports a shared ambition to enhance market responsiveness and elevate customer service.
Squircle Capital is a pan-European private equity firm operating from offices in Luxembourg, Milan and Barcelona.
John Nery, Managing Partner and Head of Investments at Squircle Capital, commented:
“This new step reinforces our strong commitment to MB92, one of the most important assets in our portfolio, and to its impressive trajectory in recent years. MB92 has delivered an outstanding track record of operational and strategic success since our initial investment, and we have no doubt that this will continue in the future. Squircle Capital will remain fully supportive of the group on this journey.”
John Nery – Managing Partner and Head of Investments at Squircle Capital
This acquisition was anticipated when Squircle Capital joined the shareholding structure in 2019 with a 77.5% stake and the option to increase its participation. It subsequently raised its stake to 93% in 2022 and to 98% in 2025, before reaching full ownership now.
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